New Issue: MarkWest Energy Partners prices $100 million tap of 8¾% senior notes due 2018 at 102

By Paul A. Harris

St. Louis, April 28 - MarkWest Energy Partners, LP priced a $100 million add-on to its 8¾% senior notes due April 15, 2018 (B2/B) at 102 on Monday, according to an informed source.

J.P. Morgan Securities Inc., RBC Capital Markets and Wachovia Securities were joint bookrunners for the quick-to-market Rule 144A with registration rights add-on.

Proceeds will be used to partially fund the company's 2008 organic growth projects.

The original $400 million priced at 99.183 on April 10.

The issuer is a Denver-based natural gas gathering and transmission company.

Issuer:	MarkWest Energy Partners, LP
Face amount:	$100 million
Proceeds:	$102 million
Maturity:	April 15, 2018
Security description:	Add-on to the 8¾% senior notes
Bookrunner:	J.P. Morgan Securities Inc., RBC Capital Markets, Wachovia Securities
Coupon:	8¾%
Price:	102
Call features:	Make-whole at Treasuries plus 50 bps until April 15, 2013, then at 104.375, 102.917, 101.458, par on and after April 15, 2016
Equity clawback:	Until April 15, 2011 for 35% at 108.75
Change-of-control put:	101
Trade date:	April 28
Settlement date:	May 1, with accrued interest
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A with registration rights
Original issue:	$400 million priced at 99.183 on April 10, 2008
Total issue size:	$500 million

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